U.S. Oil Exports Boom, Pushing Infrastructure to Limits
Tankers carrying record levels of crude are leaving in droves from Texas and Louisiana ports, and more growth in the fledgling U.S. oil export market may before long test the limits of infrastructure like pipelines, dock space and ship traffic. U.S. crude exports have boomed since the decades-old ban was lifted less than two years ago, with shipments recently hitting a record of 2 million barrels a day.
Hempel Launches New Coatings
Hempel is launching two new antifouling coatings, Globic 9500M and Globic 9500S. According to the manufacturer, the coatings offer customers a potential 2.5% reduction in speed loss, meaning a significant fuel savings and lower CO2 emissions improving the operational efficiency of a vessel and minimising the operator's environmental footprint. This coating series builds on Hempel's Globic technology to deliver superior antifouling performance for new buildings and dry-dockings…
Ivy Marine Obtains SUB M Certification
Helm Operations assisted Ivy Marine, LLC obtain its SUB M TSMS Certification. Ivy Marine, LLC, a two-towboat company out of Mobile, AL is now the third and smallest company in the United States to obtain their TSMS Certificate. Ivy Marine’s President. “Before Helm CONNECT, we used a paper-based system for all of our required forms and reports on the boats. Helm CONNECT allowed us to increase efficiency across the business…
Diamond Offshore Shares Buoyant
As the offshore energy market continues to search for signs of recovery, latest news from Diamond Offshore points to better times ahead. On Monday, October 30, 2017…
Brent Oil Stays Above $60
Brent oil held above $60 a barrel on Monday, near its highest since mid-2015, on expectations OPEC-led production cuts would be extended beyond March although rising Iraqi exports put a lid on prices.
Unsafe Mixed Migration by Sea
Unsafe mixed migration by sea continues to claim many lives, despite the strenuous efforts made by Governmental and naval rescue services, often supported by merchant vessels, abiding by the long-standing tradition and legal obligation to go to the rescue of persons in distress at sea. The complexities of this humanitarian challenge were discussed on Monday (30 October) at a meeting hosted by the International Maritime Organization (IMO)…
Star Bulk Rolls Out Logistics Venture
Star Bulk Carriers, a global shipping company focusing on the transportation of dry bulk cargoes, announced the expansion and diversification of the Company's commercial activity with the launch of the new subsidiary Star Logistics Management S.A. Star Logistics will focus on servicing the end user by connecting origination and destination of dry bulk commodities. The move is expected to further expand…
MOL Develops Mariner Safety Education Tool
Mitsui O.S.K. Lines announced that it has developed a mariner safety education tool goggle, which uses virtual reality (VR) technology created by Tsumiki Seisaku. The tool relies on VR technology to replicate various training scenarios and work operations, until now a difficult task, offering a new level of realism and immersion. It works on easily portable VR goggles, which make it possible for seafarers to train safely regardless of location, onboard or in an office or training center.
Progress in Developing GHG Strategy
The second meeting of the Intersessional Working Group on Reduction of Greenhouse Gas (GHG) Emissions from Ships (23-27 October) has made progress in starting to shape a draft initial IMO GHG strategy including refining the vision for IMO, which will express IMO's further commitment to reducing GHG emissions from international shipping. While the structure of the strategy has been largely agreed, the detailed text to be included is still under discussion.
Sojitz Buys Spanish LNG Terminal
Japan's Sojitz Corporation has acquired full ownership of First State Regasificadora (FSR), subsequently changing the company’s name to Sojitz Regasificadora (SR). SR owns a 15% stake in Regasificadora del Noroeste (Reganosa), whose assets include the LNG terminal located in Mugardos, located in the northwest of Spain. This makes Sojitz Corporation (Sojitz) the first Japanese trading company to enter into the LNG terminal business in Europe.
Cosco to Raise $2 billion to Build Ships
Chinese container carrier Cosco Shipping is thirsty for expansion and will raise CNY 12.9billion (USD 2billion) in new capital, according to Reuters report. The money will go to the construction of 20 new vessels. The carrier will use the raised fund to fund the building of six 21,237 TEU ships and five vessels of 20,119 TEU, with the remaining nine comprising five 13,800 TEU and four 14,568 TEU ships.
Swire, Siem Sign Vessel Bareboat Charter
Swire Seabed has signed a three year bareboat charter with Siem Offshore for the LCV Siem Stingray. The vessel, which will be re-named Seabed Stingray, is an Inspection, Maintenance and Repair (IMR), Construction and Survey vessel of the VARD design. She is 120.90 metres in length with a deck space of 1350 m² and is equipped with a 250 tonne offshore crane. She will also have two heavy duty work class ROVs.
DONG Energy Chooses Esvagt Castor for Hornsea One
DONG Energy has chosen Esvagt as partner in establishing the first offshore wind farm to break the 1 gigawatt barrier; the 1,200 mW offshore wind farm, Hornsea 1, off Grimsby in the UK sector of the North Sea. The 'Esvagt Castor’ will work as standby vessel and man overboard rescue vessel during the building of the offshore wind farm, which currently consists of a meteorological mast and half a dozen buoys and which, in 2020, will supply CO2 neutral power to around 850,000 homes.